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ANNUAL REPORT 2013
ROYAL SECURITIES EXCHANGE OF BHUTAN P.O. Box 742 : 02- 323995/324296
Thimphu: BHUTAN Fax No. : 323849
E-mail : [email protected]
Website : www.rsebl.org.bt
Vision
“To become an integral part of the financial
system and participate in the nation building"
Mission
"To develop and establish a fair, orderly and
transparent securities market with the
objective to facilitate efficient mobilization
and allocation of capital, and ensure apt
regulation to maintain market integrity and
investor confidence".
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Table of Content Abbreviation ______________________________________________________________ iii
Board of Directors___________________________________________________________ 1
Management _______________________________________________________________ 1
Brokerage Firms: ___________________________________________________________ 1
1. Primary Market _________________________________________________________ 2
Traded Volume. (Table 6.1)
Traded Value. (Table 6.2)
2. Secondary Market _______________________________________________________ 2
Bonus/Rights Issues _____________________________________________________ 2
Traded Volume. (Table 8.1)
Traded Value. (Table 8.2)
3. Off-Market Transaction ___________________________________________________ 3
4. Overall Trading _________________________________________________________ 3
Traded Volume. (Table 5)
Year-wise total traded securities and its value. Figure 3
5. Market Capitalization (Table 4 and Figure.2) __________________________________ 3
6. Number of Shareholders (Table 3 and Figure. 1) _______________________________ 3
7. New Listing ____________________________________________________________ 4
8. Central Depository ______________________________________________________ 4
Year wise securities holding in Central Depository. (Table 10)
9. Collateral Shares ________________________________________________________ 4
10. Debt Market ____________________________________________________________ 4
a. Corporate Bond (Table 12) ____________________________________________ 4
b. Total Outstanding Bonds at the Central Depository _________________________ 4
c. Coupon Payments ___________________________________________________ 5
11. Brokers Performance _____________________________________________________ 5
Broker Performance (%). Figure 12
12. RSEB Clearing and Settlement House (CSH) __________________________________ 5
Settlement Guarantee Fund (SGF) ___________________________________________ 5
a. Fixed Deposit of SGF __________________________________________________ 5
b.Overdraft Facility against Settlement Guarantee Fund (SGF) ____________________ 5
c.Tripartite Agreement and the Agreement between House and Member ____________ 6
13. Online Terminals ________________________________________________________ 6
14. Registration of Broker’s Representative ______________________________________ 6
15. Suspension of Securities __________________________________________________ 6
16. Reduction of Paid-Up Capital of BTL _______________________________________ 6
17. Human Resource Development _____________________________________________ 6
18. In-Country Training _____________________________________________________ 7
19. Recruitment ____________________________________________________________ 7
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20. Familiarization on Capital Market __________________________________________ 7
21. Appointment of New Directors _____________________________________________ 7
22. New Rules and Guidelines ________________________________________________ 7
23. Market Information ______________________________________________________ 7
24. Audited Accounts for the Year End 2013 _____________________________________ 8
Profit & Loss ___________________________________________________________ 8
25. Acknowledgment ________________________________________________________ 8
Financial Highlights of Listed companies (Table 1)
Share Holding Pattern 2013 (Table 2)
Dividend Records. (Table 11)
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Abbreviation
1. CSH/ House - RSEB Clearing and Settlement House 2. CD - Central Depository 3. MoEA - Ministry of Economic Affairs 4. RSEBL - Royal Securities Exchange of Bhutan Limited 5. SGF - Settlement Guarantee Fund
Listed Companies
6. BBPL - Bhutan Board Products Limited 7. BCCL - Bhutan Carbide & Chemicals Limited 8. BFAL - Bhutan Ferro Alloys Limited 9. BNBL - Bhutan National Bank Limited 10. BPCL - Bhutan Polymers Company Limited 11. BTCL - Bhutan Tourism Corporation Limited 12. BTL - Bhutan Times Limited 13. DPOP - Druk Plaster & Chemicals Limited 14. DWAL - Druk Wang Alloys Limited 15. DSCL - Druk Satair Corporation Limited 16. EBCC - S.D Eastern Bhutan Coal Company Limited 17. KCL - Kuensel Corporation Limited 18. PCAL - Penden Cement Authority Limited 19. RICB - Royal Insurance Corporation of Bhutan Limited 20. STCB - State Trading Corporation of Bhutan Limited 21. JMCL - Jigme Mining Corporation Limited 22. DFAL - Druk Ferro Alloys Limited 23. BIL - Bhutan Insurance Limited 24. DPNB - Druk PNB Bank Limited 25. TBL - T Bank Limited 26. DPL - Dungsam Polymers Limited
De-Listed Companies
27. BBCL - Bhutan Beverages Company Ltd. (De-Listed on 10th April, 2007) 28. BDAL - Bhutan Dairy & Agro Products Ltd. (De-Listed on 28th June, 2010) 29. DPCL - Druk Petroleum Corporation Ltd. (De-Listed on 18th March, 2011) 30. DML - Druk Mining Ltd.( De-Listed on 10th June, 2011)
Disclaimer: The materials provided here are for general information purposes only. While every effort is being made to ensure the accuracy and completeness of information, the Exchange makes no guarantee and assumes no liability for any error or omissions of the information provided herein. Also, no one may use the information as the basis for any claim, demand or cause of action.
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BOARD OF DIRECTORS
1. Dasho Daw Tenzin, Governor, Royal Monetary Authority Chairman 2. Mr. Kipchu Tshering, CEO, Bhutan National Bank Ltd. Director 3. Mr. Namgyal Lhendup, CEO, Royal Insurance Corp. of Bhutan Ltd. Director 4. Mr. Pema Tshering, CEO, Bhutan Development Bank. Ltd. Director 5. Mr. Pema N. Nadik, CEO, Bank of Bhutan Ltd. Director 6. Mr. Karma Yeshey, Registrar, Registrar of Companies, MoEA Director 7. Mr. Dorji Phuntsho, CEO,RSEB Member Secretary 8. Mr. Tashi Yezer, Advisor, RSEB Observer
MANAGEMENT
1. Mr. Dorji Phuntsho, Chief Executive Officer 2. Mr. Tashi Yezer, Advisor 3. Mr. Nawang Lhendup, In-charge, Central Depository 4. Mrs. Khandu Wangmo, IT/Trading Division 5. Mr. Dawa Dakpa, In-charge, Listing Division 6. Mr. Tenzin Rabgay, In charge, Research cum Clearing & Settlement 7. Mr. Bijoy Chhetri, IT/Trading Division 8. Mrs. Kuenzang Choden, Corporate Communication Division 9. Mr. Jangchuk Wangdi, Accountant, ADM 10. Mr. Kezang Dorji, Office Assistant 11. Mr. Dil Kumar Rai, Driver
Brokerage Firms:
RICB Securities Ltd. C/o Royal Insurance Corporation of Bhutan Ltd. Thimphu, Bhutan
Tel # +975-2-323487/322426
BNB Securities Ltd. C/o Bhutan National Bank Ltd. Thimphu, Bhutan Tel # +975-2-322765 / 322767, Ext. 126
BOB Securities Ltd. C/o Bank of Bhutan Ltd. Thimphu Branch, Bhutan Tel # +975-2-326841
BDB Securities Ltd. C/o Bhutan Development Bank Ltd. Thimphu, Bhutan Tel # +975-2-322579/323425
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Directors’ Report for the year 2013
On behalf of the Board of Directors and on my own behalf, I am pleased to present the 21st Annual Report along with the Audited Financial Statement of the company for the year end as of 31st December, 2013.
1. Primary Market
Public offers of Dungsam Polymer Ltd. (DPL) During the year, DPL floated 48.72% of its Paid-Up shares (403,031 shares) to the public as Initial Public Offer at Nu.165 per share including Nu. 65 per share as premium amounting to Nu.66.5 million. The offer received overwhelming public response with a total purchase order of 1,386,540 shares worth Nu. 228,779,100 from 15,738 applicants, oversubscribing the issue by 244.03%. The issue was allotted on 9th July, 2013. The following are the shareholding patterns of the DPL after the Initial Public Offer: a. General Public : 403,031 shares 48.72% b. Preferential allotment to affected land owners : 2,314 shares 0.28% c. Promoter’s Holdings : 421,890 shares 51.00% Total : 827,235 Shares 100.00%
2. Secondary Market
Bonus/Rights Issues
a. During the year TBL has issued the rights offer of 800,000 shares at Nu. 100 per share at the ratio of 1:2.75 to its existing shareholders, within the subscription period starting from 6th February to 28th February, 2013. Out of the total only 624,489 shares were subscribed (undersubscribed by 21.93%).The final allocation was successfully completed by the Central Depository on 22nd March, 2013.
b. STCB issued bonus shares amounting to 900,008 shares at the ratio of 1:1 to its
existing shareholders and it was successfully allocated by Central Depository on 8th April, 2013. As a result of the above mentioned bonus issue, the Paid-Up Capital has increased to Nu.180,001,600 from Nu. 90,000,800 in the previous year.
As a result of the new issues through Rights, Bonus and Off-Market transaction (such as, conversion of unsubscribed shares of rights issue to Employee Stock Purchase Plan or Private Placement, etc.), a total of 6,772,414 shares worth over Nu.1,724.85 million were listed on the market as additional issues during the year. Further, the transaction in the secondary market increased to Nu. 229.81 million (810,117 shares) as compared to Nu. 219.10 million (741,382 shares) during the previous year.
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3. Off-Market Transaction
a. Equity participation of International Finance Corporation (IFC) in BNBL shares :
During the year, IFC participated in the equity stakes of BNBL acquiring 5,068,756 shares at the mutually agreed price of Nu.306.68 per share worth Nu.1,554,486,090.08, representing 20% of BNBL’s share capital. The transaction was officially carried out through Off-Market transaction facility provided by Central Depository of RSEB on 11th March, 2013.
As a result of the transaction, the total Paid-Up Capital of BNBL has now increased to Nu. 2,534,377,900 from Nu. 2,027,502,300 in the previous year.
b. On 11th October, 2013, DPNB has issued 3,650 shares as a part of Employee Stock
Purchase Plan to its 73 employees worth Nu. 3,65,000 through the Off-Market Window. As a result of the Off-Market transaction, the Paid-Up Capital of DPNB has increased to Nu. 449,392,300 from Nu. 449,027,300 in the previous year.
c. On 25th December, 2013, a total of 175,511 shares of TBL’s unsubscribed rights offer were issued by the bank through Off-Market Window out of which 85.47% of its unsubscribed shares amounting to 150,011 shares were transacted as a Private Placement. The remaining 14.53% of its unsubscribed shares amounting to 25,500 shares were issued to its employees on the same day as a part of Employee Stock Purchase Plan. As a result of the Off-Market transaction, the Paid-Up Capital of TBL has increased to Nu. 300,000,000 from Nu. 220,000,000 in the previous year.
4. Overall Trading The overall traded value including initial public offer, secondary trading, bonus/rights issues increased to 8,409,766 shares amounting to Nu. 2,091.16 million as compared to 17,048,342 shares worth Nu. 1,877.95 million in the previous year.
5. Market Capitalization
During the year, the market capitalization of 21 listed companies has increased significantly to Nu. 19,932.83 million as compared to Nu. 17,630.31 million in the previous year. Besides fluctuation in the prices of the shares, the increase in market capitalization was attributed to the infusion of new shares in the market through Private Placement and Employee Stock Purchase Plan of TBL shares and DPNB shares, in addition to the new listing of DPL.
6. Number of Shareholders During the year the total number of shareholder’s account in the Central Depository has increased to 62,687 as compared to 48,077 in the previous year. The increase in the
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number of shareholder’s account was mainly due to the IPO of DPL, subscription to the Employee Stock Purchase Plan issued by TBL, DPNB and other Off-Market transactions.
7. New Listing
During the year, the securities of DPL were listed on 2nd August, 2013. With this new listing, there are 21 listed companies with a total listed volume of 55,424,319 shares.
8. Central Depository
As the function of the Central Depository is similar to that of the bank, except that it deals in shares instead of cash, the depository system has proven to be of immense benefit to the capital market in maintaining electronic share registry on behalf of the shareholders.
The volume of securities deposited in the Central Depository has grown by 15.79 % as a result of infusion of additional shares in the form of Rights, Bonus, Off-Market transaction and the new listing of DPL. In absolute terms it has increased to 55,424,319 shares during the year from 47,864,670 shares in the previous year. Currently, the Central Depository holds 100% of the total outstanding shares of the listed companies in its custody.
9. Collateral shares
One of the services provided by the Central Depository is noting of lien against shares whenever shareholders pledge their shares with the financial Institutions as collateral against the loans. This arrangement helps to either prevent or detect any sale of pledged shares in the market. In addition to the previous year’s record of 7,893,064 pledged shares, 3,139,172 shares have been pledged during the year, increasing the total volume of pledged shares to 11,032,236 shares. Between the year 2012 and 2013 Central Depository has released a total of 4,189,187 shares in its record.
10. Debt Market
a. Corporate Bond
The RICB is in the process of issuing the next seven years RICB-Bond Series III worth Nu. 1 billion with the face value of Nu.1000 per unit at the coupon rate of 9.5% per annum within the subscription period starting from 13th December, 2013 to 11th January, 2014. The BOB Securities Limited shall execute the offer of the above mentioned Corporate Bond.
b. Total Outstanding Bonds at the Central Depository
As per the records of the Central Depository, out of 4,263,038 units of bonds worth Nu.4,263.04 million (Government and Corporate Bonds), a total of 1,279,090 units of Druk Air Bonds worth Nu.1279.09 million matured during the year. The Druk Air Bond – I (G003) worth Nu. 1,156.1 Million matured on 24th October, 2013 and Druk Air Bond –II (G004) worth Nu. 122 .9 million matured on 4th December, 2013.
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c. Coupon Payments The Central Depository which acts as the central registry for the listed bonds, has facilitated a total coupon payment of Nu. 299.98 million, out of which Nu. 167.3 million were paid to the Corporate Bond holders while Nu. 132.68 million were paid to the Government Bond holders.
11. Brokers Performance
During the year 2013, out of the total securities traded in terms of value in the Secondary Market, the RICB Securities Ltd. has traded 49.77% followed by BNB Securities Ltd. with 45.01%, BOB Securities Ltd. with 2.84% and BDB Securities Ltd. with 2.38%.
12. RSEB Clearing and Settlement House (CSH)
The RSEB established the Clearing and Settlement House (CSH) in 2012 as a unit under its management with an objective to act as a legal counter party to all trades and to guarantee settlement for all members thereby reducing and controlling risks associated with the settlement of transactions. The House acts as linkages between the Central Depository and the Settlement Bank with its main responsibility to ensure successful clearing and settlement of traded securities.
Settlement Guarantee Fund (SGF)
The RSEB CSH has maintained the SGF with the contribution of Nu.200,000 from each member in order to prevent failure in trade settlements arising due to inadequate/insufficient funds maintained in the settlement accounts of the Clearing Members on the Settlement Day (i.e. on T+2).
a. Fixed Deposit of SGF During the year, the SGF worth Nu. 800,000 maintained in the form of Fixed Deposits at BNBL for a period of one year at the interest rate of 7% per annum has matured on 15th May, 2013 with the accumulated interest of Nu. 55,903.16. A sum of Nu. 855,903.16 including the interest accumulated were reinvested at the interest rate of 7% per annum for the duration of one year term that will mature on 15th May, 2014. Further, the RSEB has received corporate tax exemption for the period of three years starting from the income year 2012, and subsequently, the tax exemption also applies to the above fund.
b. Overdraft Facility against Settlement Guarantee Fund (SGF) During this year, as per Section 50(3) and Section 72 of the RSEB CSH Rules, the RSEB CSH has availed the line of credit in the form of overdraft facility against SGF accounting for 75% of the previous year’s Fixed Deposits worth Nu. 641,927.37. This facility was to be utilized only during the incidence of settlement failures which shall be renewed annually.
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c. Tripartite Agreement and the Agreement between House and Member
The CSH Rules and its procedures (Section 36 in specific) require Members, CSH and the Settlement Bank to enter into tripartite agreement and also a separate agreement between the CSH and the Clearing member. In view of above, on 2nd October, 2013, the RSEB CSH has completed signing the following agreement:
I. Tripartite Agreement signed between CSH, Clearing Member and the Settlement Bank.
II. Agreement between CSH and the Members.
13. Online terminals
RSEB has started issuing the online terminals to the investors from 22nd May, 2012. During this year, the online terminal users have increased to 45 users from 32 users in the previous year.
14. Registration of Broker’s Representative
During the year, upon completion of Broker’s Training Course conducted by the RSEB and upon subsequent issue of license by the RMA, Mr. Thinlay Dorji has been registered as the Securities Broker Representative from the RICB Securities Ltd.
15. Suspension of Securities
During the year, the Securities trading of Bhutan Times Ld. has been suspended with effect from 24th January, 2013, based on the violation of Section 29.5 of the Companies Act of the kingdom of Bhutan 2000 and non compliance of the listing norms under chapter 5 (Continuing Listing Obligation) of the Rules Governing the official Listing of Securities.
16. Reduction of Paid-Up Capital of BTL On 15th July, 2013, the Paid-Up Capital of BTL was reduced from Nu. 40 Million to Nu. 36 Million by the Central Depository of RSEB as approved by the Registrar of Companies MoEA, under the Companies Act of the Kingdom of Bhutan, 2000.
17. Human Resource Development During the year, a team comprising of seven officials including two Member Brokers from Brokerage firms visited the Philippines Stock Exchange and the Cambodia Securities Exchange. Following the visit a team comprising of three officials from the RSEB was also sent on an attachment course at the Securities Exchange Commission of Thailand to orient on various aspects related to capital market.
Further, in the month of September 2013, the Board Members of RSEB visited Nepal Stock Exchange as a part of induction program on Capital Market during which the Board Members also visited Clearing and Depository Company of Nepal, Mercantile Exchange of Nepal, the Securities Exchange Board of Nepal and a brokerage firm.
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18. In-Country Training
During the year, four officials from RSEB and also the Member Brokers attended the compliance training on capital market on 8th August, 2013 at Royal Monetary Authority. Further, in the month of October, three officials from RSEB attended a program on Securities Regulation organized by the Royal Monetary Authority.
19. Recruitment During the year, the RSEB has recruited one Corporate Communication Officer in December 2013.
20. Familiarization on Capital market During the year, a team of four brokers and an official from RSEB, led by the Chief Executive Officer of RSEB, visited the following companies to educate and familiarize them on the concept of Capital Market and create awareness on raising capital.
a. Green Wood Manufacturing Corporation Limited. b. Army Welfare Project. c. Food Corporation of Bhutan. d. Bhutan Board Products Ltd.
Further, during the period, an officials from RSEB and the four Brokers visited Bhutan Agro Industries Ltd. and National Housing and Development Corporation Ltd. to familiarize them on the concept of Capital Market.
21. Appointment of new Directors During the year, Mr. Pema N. Nadik, Chief Executive Officer, Bank of Bhutan Ltd. was nominated and appointed as Director in the Board of RSEB in line with the decision of the 47th Board meeting held on January 8, 2013.
22. New Rules and Guidelines
During the 51st Board meeting held on 23rd December, 2013 the Rules on Sale of Shares by promoters/major shareholders and state owned shares has been approved as part of the Listing Rules. The annual listing fees of listed companies were also revised during this Meeting.
23. Market Information
For the benefit of the general public, the compilation of companies’ information such as issued capital, profits/loss, reserves, face value, book value, market value, earnings per share, and return on capital, debt equity ratio, dividend yields etc. are calculated and tabulated manually from the year’s balance sheets of the respective listed companies, which are included in this report
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24. Audited Accounts for the year end 2013
The annual accounts of the RSEB for the year ended 31st December 2013 was audited by Nag and Associates, Chartered Accountants, Kolkata, India. Profit & Loss
The Exchange, during the year, generated a net profit of Nu.3,458,395.87 as compared to Nu.1,055,685.56 in the previous year. The profit during the year was mainly contributed by the trading (transaction) fees, initial listing fees, depository annual maintenance fees and non-commercial transaction fees and other Off-Market transaction fees.
25. Acknowledgment On behalf of the Royal Securities of Bhutan Limited and the Board of Directors I would like to take this opportunity to place on record the acknowledgement of our sincere appreciation to all the listed companies, the Brokerage Firms, the Royal Monetary Authority of Bhutan and the Department of Industry, MoEA, for their patronage and continued support in making the year 2013 a successful one.
Chairman
FINANCIAL HIGHLIGHTS OF THE LISTED COMPANIES
Table -1
Company/
year of
listing
Year Paid-Up Capital P/Shares Reserves Net ProfitFace
Value
(IPO)
Debt
Market Price Dividend (%)
Book
Value
Earnings
Per
Share
Price
earnings
Ratio
Returns On
Capital
Dividend
Yield Debt Equity Ratio
BBPL 2008 140,001,400.00 1,400,014 67,250,213.02 12,986,492.88 100 - 140.00 6.00 148.04 9.28 15.09 0.06 4.29 -
1993 2009 140,001,400.00 1,400,014 79,470,750.67 33,220,747.65 100 - 140.00 15.00 156.76 23.73 5.90 0.15 10.71 -
2010 140,001,400.00 1,400,014 96,270,087.19 33,599,504.52 100 - 140.00 12.00 168.76 24.00 5.83 0.14 8.57 -
2011 140,001,400.00 1,400,014 100,761,060.97 21,291,141.77 100 - 140.00 12.00 171.97 15.21 9.21 0.09 8.57 -
2012 140,001,400.00 1,400,014 117,166,767.15 16,405,706.19 100 2,243,733.95 140.00 - 183.69 11.72 11.95 0.06 - 0.02
2013 140,001,400.00 1,400,014 162,876,537.18 45,709,770.22 100 - 100.00 10.00 216.34 32.65 3.06 0.15 10.00 -
BCCL 2008 100,000,000.00 1,000,000 470,986,360.07 14,494,288.24 100 264,169,735.11 800.00 10.00 570.99 14.49 55.19 0.03 1.25 2.64
1993 2009 100,000,000.00 1,000,000 377,217,014.65 (88,173,035.27) 100 222,674,738.90 900.00 - 477.22 (88.17) (10.21) (0.18) - 2.23
2010 100,000,000.00 1,000,000 428,762,881.05 72,199,546.93 100 292,212,723.63 900.00 20.00 528.76 72.20 12.47 0.14 2.22 2.92
2011 100,000,000.00 1,000,000 421,448,972.58 8,145,457.49 100 240,807,912.89 900.00 10.00 521.45 8.15 110.43 0.02 1.11 2.41
2012 100,000,000.00 1,000,000 451,026,133.00 29,577,161.00 100 260,013,702.00 900.00 25.00 551.03 29.58 30.43 0.05 2.78 2.60
2013 100,000,000.00 1,000,000 472,277,337.00 46,251,204.00 100 253,182,126.00 770.00 40.00 572.28 46.25 16.65 0.08 5.19 2.53
BFAL 2008 150,000,000.00 1,500,000 493,995,958.45 278,510,789.87 100 631,757,563.39 550.00 40.00 429.33 185.67 2.96 0.43 7.27 4.21
1995 2009 150,000,000.00 1,500,000 464,422,177.35 90,426,218.90 100 589,449,390.52 550.00 50.00 409.61 60.28 9.12 0.15 9.09 3.93
2010 150,000,000.00 1,500,000 581,849,716.64 244,927,539.29 100 492,426,710.09 600.00 85.00 487.90 163.29 3.67 0.33 14.17 3.28
2011 150,000,000.00 1,500,000 615,271,776.55 130,922,059.91 100 438,256,565.17 600.00 65.00 510.18 87.28 6.87 0.17 10.83 2.92
2012 150,000,000.00 1,500,000 708,266,795.98 92,995,019.43 100 367,498,993.82 600.00 60.00 572.18 62.00 9.68 0.11 10.00 2.45
2013 150,000,000.00 1,500,000 734,058,390.66 115,791,594.68 100 277,794,211.34 600.00 65.00 589.37 77.19 7.77 0.13 10.83 1.85
BNBL 2008 355,517,500.00 3,555,175 933,135,258.58 310,349,596.02 100 14,601,360,500.74 400.00 28.50 362.47 87.30 4.58 0.24 7.13 41.07
1996 2009 355,517,500.00 3,555,175 1,098,082,013.62 266,269,242.54 100 17,467,773,894.37 400.00 28.50 408.87 74.90 5.34 0.18 7.13 49.13
2010 355,517,500.00 3,555,175 1,247,576,876.14 250,817,350.02 100 16,066,990,146.50 470.00 28.50 450.92 70.55 6.66 0.16 6.06 45.19
2011 675,834,100.00 6,758,341 2,877,301,140.37 510,057,588.93 100 13,307,805,143.88 520.00 - 525.74 75.47 6.89 0.14 - 19.69
2012 2,027,502,300.00 20,275,023 2,927,192,599.00 697,983,342.00 100 13,957,115,713.00 300.00 16.64 244.37 34.43 8.71 0.14 5.55 6.88
2013 2,534,377,900.00 25,343,779 3,205,653,115.00 482,732,947.00 100 11,667,108,203.60 335.00 7.66 226.49 19.05 17.59 0.08 2.29 4.60
BPCL 2008 24,933,400.00 249,334 33,937,059.02 8,018,506.99 100 22,234,896.17 100.00 25.00 236.11 32.16 3.11 0.14 25.00 0.89
1997 2009 24,933,400.00 249,334 36,284,797.86 11,074,428.19 100 17,700,271.86 100.00 35.00 245.53 44.42 2.25 0.18 35.00 0.71
2010 24,933,400.00 249,334 39,305,911.90 10,501,134.70 100 15,316,412.98 100.00 30.00 257.64 42.12 2.37 0.16 30.00 0.61
2011 24,933,400.00 249,334 40,078,172.47 3,265,600.57 100 15,102,632.29 100.00 10.00 260.74 13.10 7.64 0.05 10.00 0.61
2012 24,933,400.00 249,334 40,617,596.74 1,786,094.27 100 31,304,724.04 100.00 5.00 262.90 7.16 13.96 0.03 5.00 1.26
2013 24,933,400.00 249,334 42,619,012.81 3,996,088.07 100 38,431,547.22 100.00 8.00 270.93 16.03 6.24 0.06 8.00 1.54
BTCL 2008 20,940,000.00 209,400 70,573,062.40 25,255,207.77 100 51,541,145.00 301.00 30.00 437.03 120.61 2.50 0.28 9.97 2.46
1994 2009 20,940,000.00 209,400 81,558,743.27 10,942,239.43 100 43,921,140.99 301.00 - 489.49 52.26 5.76 0.11 - 2.10
2010 20,940,000.00 209,400 89,668,058.16 11,120,172.27 100 33,787,404.99 400.00 20.00 528.21 53.10 7.53 0.10 5.00 1.61
2011 20,940,000.00 209,400 102,257,123.37 18,538,572.21 100 26,607,905.70 400.00 25.00 588.33 88.53 4.52 0.15 6.25 1.27
2012 20,940,000.00 209,400 132,869,299.53 28,813,915.42 100 15,008,413.94 400.00 25.00 734.52 137.60 2.91 0.19 6.25 0.72
2013 20,940,000.00 209,400 173,682,040.08 30,063,557.81 100 10,427,572.43 400.00 25.00 929.43 143.57 2.79 0.15 6.25 0.50
DPOP 2008 10,000,000.00 100,000 4,451,311.00 2,610,082.00 100 13,010,545.00 200.00 15.00 144.51 26.10 7.66 0.18 7.50 1.30
2001 2009 10,000,000.00 100,000 8,994,220.00 7,542,908.00 100 10,126,010.00 200.00 30.00 189.94 75.43 2.65 0.40 15.00 1.01
2010 10,000,000.00 100,000 12,761,249.00 9,767,029.00 100 - 200.00 60.00 227.61 97.67 2.05 0.43 30.00 -
2011 10,000,000.00 100,000 15,150,692.00 3,889,444.00 100 - 200.00 15.00 251.51 38.89 5.14 0.15 7.50 -
2012 10,000,000.00 100,000 16,543,321.00 3,892,629.00 100 - 200.00 25.00 265.43 38.93 5.14 0.15 12.50 -
2013 10,000,000.00 100,000 17,344,051.00 1,800,731.00 100 200.00 10.00 273.44 18.01 11.11 0.07 5.00 -
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FINANCIAL HIGHLIGHTS OF THE LISTED COMPANIES
Company/
year of
listingYear Paid-Up Capital P/Shares Reserves Net Profit
Face
Value
(IPO)Debt
Market Price Dividend (%)
Book
Value
Earnings
Per
Share
Price
earnings
Ratio
Returns On
Capital
Dividend
Yield Debt Equity Ratio
DSCL 2008 45,654,300.00 456,543 64,508,181.00 35,078,813.00 100 - 300.00 45.00 241.30 76.84 3.90 0.32 15.00 -
1998 2009 45,654,300.00 456,543 78,889,531.00 60,035,649.00 100 2,902,964.00 300.00 100.00 272.80 131.50 2.28 0.48 33.33 0.06
2010 91,308,600.00 913,086 49,465,027.00 71,014,956.00 100 - 300.00 60.00 154.17 77.77 3.86 0.50 20.00 -
2011 91,308,600.00 913,086 92,801,512.00 111,817,935.00 100 - 300.00 75.00 201.64 122.46 2.45 0.61 25.00 -
2012 91,308,600.00 913,086 120,377,566.00 91,492,073.00 100 - 300.00 70.00 231.84 100.20 2.99 0.43 23.33 -
2013 91,308,600.00 913,086 140,874,999.00 111,806,033.00 100 300.00 100.00 254.28 122.45 2.45 0.48 33.33 -
PCAL 2008 340,000,700.00 3,400,007 729,539,656.00 293,107,508.00 100 - 790.00 70.00 314.57 86.21 9.16 0.27 8.86 -
1993 2009 340,000,700.00 3,400,007 759,741,485.00 370,202,529.00 100 - 750.00 100.00 323.45 108.88 6.89 0.34 13.33 -
2010 340,000,700.00 3,400,007 798,480,562.00 378,739,777.00 100 - 750.00 100.00 334.85 111.39 6.73 0.33 13.33 -
2011 340,000,700.00 3,400,007 749,851,087.46 291,371,225.46 100 - 950.00 100.00 320.54 85.70 11.09 0.27 10.53 -
2012 340,000,700.00 3,400,007 761,761,885.00 351,911,498.00 100 - 930.00 100.00 324.05 103.50 8.99 0.32 10.75 -
2013 340,000,700.00 3,400,007 727,800,038.00 272,038,783.00 100 - 700.00 90.00 314.06 80.01 8.75 0.25 12.86 -
RICB 2008 96,000,000.00 960,000 550,047,947.00 119,261,690.00 100 963,417,837.00 500.00 30.00 672.97 124.23 4.02 0.18 6.00 10.04
1993 2009 240,000,000.00 2,400,000 559,832,891.00 181,198,913.00 100 1,417,067,489.00 330.00 25.00 333.26 75.50 4.37 0.23 7.58 5.90
2010 240,000,000.00 2,400,000 734,419,811.00 210,134,944.00 100 3,269,241,549.00 350.00 25.00 406.01 87.56 4.00 0.22 7.14 13.62
2011 240,000,000.00 2,400,000 982,775,765.00 300,087,388.00 100 3,550,535,523.00 500.00 30.00 509.49 125.04 4.00 0.25 6.00 14.79
2012 240,000,000.00 2,400,000 1,267,061,156.00 350,748,565.00 100 3,264,970,000.00 600.00 35.00 627.94 146.15 4.11 0.23 5.83 13.60
2013 240,000,000.00 2,400,000 1,524,560,666.00 365,160,131.00 100 3,639,049,060.00 700.00 45.00 735.23 152.15 4.60 0.21 6.43 15.16
STCB 2008 20,000,000.00 200,000 75,556,157.34 42,794,702.59 100 - 190.00 20.00 477.78 213.97 0.89 0.45 10.53 -
1997 2009 40,000,000.00 400,000 82,550,562.61 30,994,405.27 100 - 190.00 10.00 306.38 77.49 2.45 0.25 5.26 -
2010 40,000,000.00 400,000 141,034,977.87 88,484,415.26 100 - 190.00 25.00 452.59 221.21 0.86 0.49 13.16 -
2011 60,000,300.00 600,003 201,322,485.92 72,287,868.05 100 76,969,704.24 190.00 20.00 435.54 120.48 1.58 0.28 10.53 1.28
2012 90,000,800.00 900,008 180,359,151.71 9,037,165.79 100 25,287,368.52 190.00 - 300.40 10.04 18.92 0.03 - 0.28
2013 180,001,600.00 1,800,016 94,950,554.52 4,592,202.81 100 - 200.00 - 152.75 2.55 78.39 0.02 - -
EBCC 2008 52,100,000.00 521,000 18,832,321 58,695,433.44 100 3,726,189.05 300.00 80.00 136.15 112.66 2.66 0.83 26.67 0.07
2005 2009 52,100,000.00 521,000 58,352,065.91 76,859,278.22 100 - 300.00 30.00 212.00 147.52 2.03 0.70 10.00 -
2010 52,100,000.00 521,000 127,859,454.58 119,032,544.10 100 - 300.00 60.00 345.41 228.47 1.31 0.66 20.00 -
2011 52,100,000.00 521,000 193,805,702.34 118,061,289.76 100 - 300.00 65.00 471.99 226.61 1.32 0.48 21.67 -
2012 52,100,000.00 521,000 284,788,082.03 148,327,921.69 100 - 300.00 75.00 646.62 284.70 1.05 0.44 25.00 -
2013 52,100,000.00 521,000 419,286,878.39 138,796,028.04 100 - 344.00 200.00 904.77 266.40 1.29 0.29 58.14 -
2008 50,000,000.00 500,000 93,199,968.00 6,965,155.00 100 - 100.00 9.00 286.40 13.93 7.18 0.05 9.00 -
KCL 2009 50,000,000.00 500,000 95,202,516.00 9,998,935.00 100 - 100.00 12.00 290.41 20.00 5.00 0.10 12.00 -
2007 2010 50,000,000.00 500,000 100,817,752.00 15,876,723.00 100 23,000,000.00 100.00 18.00 301.64 31.75 3.15 0.11 18.00 0.46
2011 50,000,000.00 500,000 110,874,490.00 22,214,906.00 100 21,016,339.00 100.00 20.00 321.75 44.43 2.25 0.14 20.00 0.42
2012 50,000,000.00 500,000 122,045,035.00 12,457,068.00 100 16,737,478.00 130.00 12.00 344.09 24.91 5.22 0.07 9.23 0.33
2013 50,000,000.00 500,000 104,130,538.00 6,023,719.00 100 13,213,878.00 120.00 - 308.26 12.05 9.96 0.04 - 0.26
10
FINANCIAL HIGHLIGHTS OF THE LISTED COMPANIES
Company/
year of
listingYear Paid-Up Capital P/Shares Reserves Net Profit
Face
Value
(IPO)Debt
Market Price Dividend (%)
Book
Value
Earnings
Per
Share
Price
earnings
Ratio
Returns On
Capital
Dividend
Yield Debt Equity Ratio
2008 40,000,000.00 400,000 12,758,769.59 8,367,866.30 100 - 100.00 - 131.90 20.92 4.78 0.16 - -
BTL 2009 40,000,000.00 400,000 (5,322,651.30) (9,907,976.39) 100 - 105.00 - 86.69 (24.77) N.A (0.29) - -
2008 2010 40,000,000.00 400,000 (3,870,566.31) (397,922.51) 100 - 105.00 - 90.32 (0.99) N.A (0.01) - -
2011 40,000,000.00 400,000 (8,084,031.76) (4,213,465.45) 100 - 105.00 - 79.79 (10.53) N.A (0.13) - -
2012 40,000,000.00 400,000 (18,689,087.17) (10,605,055.41) 100 - 105.00 - 53.28 (26.51) N.A (0.50) - -
2013 36,000,000.00 360,000 (21,690,490.56) (3,001,403.39) 100 - 105.00 - 39.75 (8.34) N.A (0.21) - -
2008 194,000,000.00 1,940,000 - - 100 293,344,593.71 100.00 - 100.00 - - - - 1.51
DWAL 2009 194,000,000.00 1,940,000 - (23,993,771.89) 100 276,073,787.30 100.00 - 100.00 (12.37) (8.09) (0.12) - 1.42
2008 2010 194,000,000.00 1,940,000 4,212,623.79 105,806,395.68 100 213,336,073.32 200.00 40.00 102.17 54.54 3.67 0.53 20.00 1.10
2011 194,000,000.00 1,940,000 74,684,201.49 186,871,577.70 100 174,873,566.42 600.00 60.00 138.50 96.33 6.23 0.70 10.00 0.90
2012 194,000,000.00 1,940,000 77,212,324.45 60,728,122.96 100 217,533,209.31 450.00 30.00 139.80 31.30 14.38 0.22 6.67 1.12
2013 194,000,000.00 1,940,000 112,925,459.91 132,713,135.46 100 145,251,562.88 450.00 50.00 158.21 68.41 6.58 0.43 11.11 0.75
2008 28,430,000.00 284,300 68,310,966.99 63,462,797.78 100 - 800.00 70.00 340.28 223.22 3.58 0.66 8.75 -
JMCL 2009 42,653,200.00 426,450 103,235,306.89 78,990,839.90 100 70,046,027.00 650.00 70.00 342.10 185.23 3.51 0.54 10.77 1.64
2008 2010 42,653,200.00 426,532 154,400,424.73 93,840,458.44 100 - 650.00 100.00 461.99 220.01 2.95 0.48 15.38 -
2011 56,876,300.00 568,763 186,938,877.67 103,637,852.94 100 - 700.00 100.00 428.68 182.22 3.84 0.43 14.29 -
2012 56,876,300.00 568,763 238,113,132.03 108,050,554.36 100 - 700.00 100.00 518.65 189.97 3.68 0.37 14.29 -
2013 56,876,300.00 568,763 299,146,526.20 132,128,769.17 100 - 850.00 125.00 625.96 232.31 3.66 0.37 14.71 -
DFAL 2008 163,013,000.00 1,630,130 - (28,997,373.00) 100 251,874,005.29 - - 100.00 (17.79) - (0.18) - 1.55
2009 2009 163,013,000.00 1,630,130 - (45,891,943.82) 100 326,605,477.02 100.00 - 100.00 (28.15) (3.55) (0.28) - 2.00
2010 289,776,200.00 2,897,762 1,191,404.78 50,453,358.78 100 152,885,314.03 100.00 17.00 100.41 17.41 5.74 0.17 17.00 0.53
2011 289,776,200.00 2,897,762 2,538,572.91 67,995,694.13 100 138,183,677.83 100.00 23.00 100.88 23.46 4.26 0.23 23.00 0.48
2012 289,776,200.00 2,897,762 4,805,651.56 51,529,032.65 100 142,087,379.44 150.00 17.00 101.66 17.78 8.44 0.17 11.33 0.49
2013 289,776,200.00 2,897,762 13,955,701.98 67,105,290.42 100 134,308,049.02 300.00 20.00 104.82 23.16 12.95 0.22 6.67 0.46
BIL 2009 100,000,000.00 1,000,000 4,246,902.12 3,246,902.12 100 - 105.00 - 104.25 3.25 32.31 0.03 - -
2009 2010 100,000,000.00 1,000,000 9,116,588.00 12,369,686.00 100 50,000,000.00 200.00 7.50 109.12 12.37 16.16 0.11 3.75 0.50
2011 100,000,000.00 1,000,000 23,912,736.00 29,796,148.00 100 125,000,000.00 220.00 15.00 123.91 29.80 7.38 0.24 6.82 1.25
2012 200,000,000.00 2,000,000 45,079,789.00 40,167,053.00 100 71,266,619.00 200.00 9.50 122.54 20.08 9.96 0.16 4.75 0.36
2013 200,000,000.00 2,000,000 69,203,054.13 44,123,265.00 100 86,943,588.00 162.00 10.00 134.60 22.06 7.34 0.16 6.17 0.43
DPNB 2010 300,000,000.00 3,000,000 - (11,788,570.01) 100 1,699,534,356.50 350.00 - 100.00 (3.93) NA (0.04) - 5.67
2010 2011 300,000,000.00 3,000,000 33,513,402.11 45,301,972.12 100 1,961,418,750.00 350.00 - 111.17 15.10 23.18 0.14 - 6.54
2012 449,027,300.00 4,490,273 120,699,013.92 85,976,449.81 100 1,948,723,959.99 300.00 6.00 126.88 19.15 15.67 0.15 2.00 4.34
2013 449,392,300.00 4,493,923 186,338,160.33 97,096,607.40 100 2,488,968,220.58 297.00 7.00 141.46 21.61 13.75 0.15 2.36 5.54
TBL 2011 220,000,000.00 2,200,000 21,627,817.30 21,627,817.30 100 2,618,881,101.89 250.00 - 109.83 9.83 25.43 0.09 - 11.90
2011 2012 220,000,000.00 2,200,000 58,575,968.21 36,948,150.90 100 2,293,569,489.12 300.00 - 126.63 16.79 17.86 0.13 - 10.43
2013 300,000,000.00 3,000,000 74,076,986.84 18,870,050.37 100 2,478,137,306.52 150.00 - 124.69 6.29 23.85 0.05 - 8.26
DPL 2013 82,723,500.00 827,235 (44,096,090.30) (24,855,338.46) 100 126,570,000 240.00 - 46.69 (30.05) NA (0.64) - 1.53
2013
1. Book Value = Cap. + Reserves / No. of Shares 2. EPS = Net Profit/ No. of shares
3. PE Ratio = Market Price / EPS 4. Return on Capital = Net Profit / Equity + Reserves
*5. Div. Yield = Div. per share X 100 / MP per share 6. Debt Equity Ratio = Long term Liability / Paid Up Capital
11
SHAREHOLDING PATTERN - 2013
No.of
shares Percent
No.of
shares Percent
No.of
shares Percent
No.of
shares Percent
No.of
shares Percent
No.of
shares Percent
No.of
shares Percent
BBPL 1,400,014 668,334 47.74 185,630 13.26 - - 82,450 5.89 73,120 5.22 - - 390,480 27.89
BCCL 1,000,000 - - 392,320 39.23 - - 7,000 0.70 291,024 29.10 256,970 25.70 52,686 5.27
BFAL 1,500,000 385,946 25.73 130,380 8.69 180,000 12.00 43,906 2.93 595,898 39.73 160,933 10.73 2,937 0.20
BIL 2,000,000 - - - - - - 2,067 0.10 115,819 5.79 671,984 33.60 1,210,130 60.51
BNBL 25,343,779 2,915,712 11.50 450,000 1.78 5,068,756 20.00 168,284 0.66 6,946,103 27.41 - - 9,794,924 38.65
BPCL 249,334 - - 12,714 5.10 - - - - 2,250 0.90 133,932 53.72 100,438 40.28
BTCL 209,400 - - - - - - 1,000 0.48 22,870 10.92 104,740 50.02 80,790 38.58
BTL 360,000 - - - - - - - - 1,000 0.28 193,371 53.71 165,629 46.01
DFAL 2,897,762 - - 697,825 24.08 - - 697,828 24.08 - - 781,087 26.95 721,022 24.88
DPL 827,235 421,890 51.00 - - - - 163 0.02 392 0.05 - - 404,790 48.93
DPNB 4,490,273 - - - - 2,295,000 51.11 2,119 0.05 141,192 3.14 855,000 19.04 1,196,962 26.66
DPOP 100,000 - - - - - - 18,000 18.00 31,000 31.00 21,000 21.00 30,000 30.00
DSCL 913,086 - - - - - - 331,080 36.26 45,568 4.99 318,976 34.93 217,462 23.82
DWAL 1,940,000 - - - - - - 5,250 0.27 500 0.03 1,734,531 89.41 199,719 10.29
EBCC 521,000 - - - - - - - - - - 377,020 72.36 143,980 27.64
JMCL 568,763 - - - - - - - - - - 402,993 70.85 165,770 29.15
KCL 500,000 255,000 51.00 - - - - - - 143,283 28.66 - - 101,717 20.34
PCAL 3,400,007 1,371,074 40.33 61,875 1.82 - - 690,053 20.30 666,508 19.60 - - 610,497 17.96
RICB 2,400,000 441,950 18.41 8,850 0.37 - - 13,050 0.54 1,263,250 52.64 - - 672,900 28.04
STCB 1,800,016 918,000 51.00 215,244 11.96 - - - - 235,036 13.06 - - 431,736 23.99
TBL 2,824,489 - - - - - - 1,720 0.06 4,137 0.15 1,800,000 63.73 1,018,632 36.06
Table - 2Dratshangs Institutional Investors Major Shareholders General Public
Paid Up
SharesSecurity
Foreign Inst. InvestorsRGOB/DHI Finanancial Institutions
12
NUMBER OF SHAREHOLDERS
Table - 3
Issuing 2007 2008 2009 2010 2011 2012 2013
Company
BBPL 492 491 491 494 494 487 487
BCCL 264 259 259 259 258 259 259
*BDAL 96 96 96 De-listed
BFAL 46 44 44 43 43 43 43
BIL - - 4,432 4,393 4,310 4,445 4,395
BNBL 4,440 4,357 4,374 4,308 4,415 4,523 4,519
BPCL 129 129 128 128 128 128 128
BTCL 164 162 162 159 158 157 156
BTL - 288 289 289 289 288 288
DFAL - - 366 471 467 460 459
DPL - - - - - - 14,833
*DPCL 71 71 71 71 De-listed
DPNB 23,216 22,540 22,564 22,378
DPOP 213 213 213 212 214 214 214
DSCL 1,277 1,276 1,279 1,277 1,276 1,272 1,267
*DML 67 67 67 67 De-listed
DWAL - 504 507 501 498 498 496
EBCC 1,089 1,082 1,082 1,081 1,075 1,074 1,069
JMCL - 426 418 418 415 416 418
KCL 253 233 233 232 232 232 233
PCAL 1,471 1,472 1,462 1,467 1,456 1,449 1,447
RICB 1,585 1,556 1,556 1,553 1,536 1,524 1,506
STCB 125 125 125 135 135 135 137
TBL - - - - 8,066 7,909 7,955
Total :- 11,782 12,851 17,654 40,774 48,005 48,077 62,687
-
20,000
40,000
60,000
80,000
2007 2008 2009 2010 2011 2012 2013
11,782 12,851 17,654
40,774 48,005
48,077
62,687
YEAR
No
. o
f S
hare
ho
lders
Figure : 1
Note:
* Delisted from the Exchange 13
MARKET CAPITALIZATION
Table - 4
Company 2007 2008 2009 2010 2011 2012 2013
BBPL 140.00 196.00 196.00 196.00 196.00 196.00 140.00
BCCL 600.00 800.00 900.00 900.00 900.00 900.00 770.00
*BDAL 14.10 14.10 14.10 delisted -
BFAL 765.00 825.00 825.00 900.00 900.00 900.00 900.00
BIL - - 105.00 200.00 220.00 400.00 324.00
BNBL 958.01 1,422.07 1,496.73 1,670.93 3,514.34 6,082.51 8,490.17
BPCL 24.93 24.93 24.93 24.93 24.93 24.93 24.93
BTCL 35.60 63.03 63.03 83.76 83.76 83.76 83.76
BTL - 40.00 42.00 42.00 42.00 42.00 37.80
DFAL 163.01 289.78 289.78 434.66 869.33
*DPCL 7.48 7.48 7.48 7.48 delisted -
DPL 198.54
DPOP 20.00 20.00 20.00 20.00 20.00 20.00 20.00
DPNB 1,050.00 1,050.00 1,347.08 1,334.70
DSCL 136.96 136.96 136.96 273.93 273.93 273.93 273.93
*DML 16.17 16.17 16.17 16.17 delisted -
DWAL - 167.00 194.00 388.00 1,164.00 873.00 873.00
EBCC 72.94 156.30 156.30 156.30 156.30 156.30 179.22
JMCL - 227.44 277.25 277.25 398.13 398.13 483.45
KCL 50.00 50.00 50.00 50.00 50.00 65.00 60.00
PCAL 1,813.34 2,686.01 2,550.01 2,550.01 3,230.01 3,162.01 2,380.00
RICB 336.00 480.00 792.00 840.00 1,200.00 1,440.00 1,680.00
STCB 38.00 38.00 38.00 76.00 114.00 171.00 360.00
TBL 550.00 660.00 450.00
TOTAL 5,028.53 7,370.50 8,067.98 10,012.54 14,377.18 17,630.31 19,932.83
Nu. in million
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
2007
2008
2009
2010
2011
2012
2013
5,0
28.5
3
7,3
70.5
0
8,0
67.9
8
10,0
12.5
4
14,3
77.1
8
17,6
30.3
1
19,9
32.8
3
Nu
. in
Mil
lio
n
Year
Market Capitalization Figure : 2
Note:Figures may not tally due to rounding
* De-listed from the Exchange14
TOTAL TRADED VOLUME
Table - 5 No. of shares
Company 2007 2008 2009 2010 2011 2012 2013
*BBCL - - - - - -
BBPL - 100 - - - - 10,100
BCCL 1,000,000 970 20,000 - - 84 20
*BDAL - - - 50 -
BFAL - 534 - 50 - - -
BIL - - 1,001,428 32,247 19,981 1,024,815 171,831
BNBL 23,444 2,413,164 187,789 26,913 3,329,839 14,116,796 5,589,791
BPCL 71 - - - - - -
BTCL - 19,160 - 80 60 - 40
BTL 400,000 - 300 - - -
DFAL - 1,222,600 - 1,973,715 2,650 50,150 4,050
DPL 858,983
*DPCL - - - - - -
DPNB 3,029,820 27,950 1,504,829 37,561
DPOP 50 - - - - - -
DSCL 3,063 - - 456,543 - - -
*DML 2,026 - - - - - -
DWAL 417,500 1,252,500 270,000 11,450 970 650 1,175
EBCC 11,607 2,986 - 150 486 1,261 1,000
JMCL - 199,180 143,053 - 144,331 1,277 801
KCL - 216 - - - 978 432
PCAL 5,260 1,134,737 50,895 1,220 5,490 1,440 3,585
RICB 5,010 3,500 1,440,550 1,350 4,450 5,160 3,250
STCB - 30 200 209,800 200,003 300,005 900,448
TBL 2,384,948 40,897 826,699
TOTAL 1,868,031 6,249,677 3,114,215 5,743,388 6,121,158 17,048,342 8,409,766
YEAR Volume(thousand)Nu. in million
2007 1,868 207.33
2008 6,250 648.36
2009 3,114 417.58
2010 5,743 638.30
2011 6,121 1828.53
2012 17,048 1877.95
2013 8,409 2091.16
48,554 7,709.21
Security
Volume Amount
*BBCL 1,196,243 124,552,949
BBPL 1,466,604 146,692,870
BCCL 1,031,963 138,873,454
*BDAL 12,250 1,225,000
BFAL 1,560,824 158,128,720
BIL 2,250,302 247,008,559
BNBL 24,023,514 4,323,578,054
BPCL 176,564 25,530,475
BTCL 235,703 34,055,731
BTL 400,300 40,031,500
DFAL 3,660,695 416,126,800
DPL 858,983 144,830,313
*DPCL 74,889 7,656,240
DPNB 4,600,322 512,831,008
DPOP 100,083 10,021,550
DSCL 1,042,993 141,588,738
*DML 72,113 23,615,360
DWAL 1,954,245 197,711,250
EBCC 559,003 57,473,070
JMCL 573,942 60,396,850
KCL 246,626 32,124,380
PCAL 3,553,403 552,359,733
RICB 2,456,830 290,268,519
STCB 1,724,166 173,681,450
TBL 3,252,544 364,398,129
2,013
0.00
500.00
1000.00
1500.00
2000.00
2500.00
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
2007 2008 2009 2010 2011 2012 2013
Nu
. in
Mill
ion
Vo
lum
e (
00
0)
Years
YEAR-WISE TOTAL TRADED SECURITIES & VALUE Value volume
Figure:3
1,1
96
,24
3
1,4
66
,60
4
1,0
31
,96
3
12
,25
0
1,5
60
,82
4
2,2
50
,30
2
24
,02
3,5
14
17
6,5
64
23
5,7
03
40
0,3
00
3,6
60
,69
5
85
8,9
83
74
,88
9 4
,60
0,3
22
10
0,0
83
1,0
42
,99
3
72
,11
3
1,9
54
,24
5
55
9,0
03
57
3,9
42
24
6,6
26
3,5
53
,40
3
2,4
56
,83
0
1,7
24
,16
6
3,2
52
,54
4
-
500,000,000
1,000,000,000
1,500,000,000
2,000,000,000
2,500,000,000
3,000,000,000
3,500,000,000
4,000,000,000
4,500,000,000
5,000,000,000
-
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
*BB
CL
BB
PL
BC
CL
*BD
AL
BFA
L
BIL
BN
BL
BP
CL
BTC
L
BTL
DFA
L
DP
L
*DP
CL
DP
NB
DP
OP
DSC
L
*DM
L
DW
AL
EBC
C
JMC
L
KC
L
PC
AL
RIC
B
STC
B
TBL
Val
ue
(N
u)
Company
Vo
lum
e
COMPANY- WISE TOTAL TRADED SHARES & VALUE FROM 1993-2013
Volume Value
Figure:4
Note :Figures may not tally due to rounding
* De- listed from the Exchange 15
PUBLIC OFFERS (IPO)
Table 6.1 No. of shares
TOTAL
COMPANY 2007 2008 2009 2010 2011 2012 2013 VOLUME
*BBCL - - - - - - -
BBPL - - - - - - - -
BCCL - - - - - - - -
*BDAL - - - - - - - -
BFAL - - - - - - - -
BNB - - - - - - - -
BIL - - 1,000,000 - - - - 1,000,000
BPCL - - - - - - - -
BTCL - - - - - - - -
BTL 400,000 - - - - - - 400,000
DFAL - 1,222,600 - - - - 1,222,600
DPL 827,235 827,235
*DPCL - - - - - - - -
DPNB 3,000,000 - - - 3,000,000
DPOP - - - - - - - -
DSCL - - - - - - - -
*DML - - - - - - - -
DWAL 417,500 1,252,500 270,000 - - - - 1,940,000
EBCC - - - - - - - -
JMCL - 199,000 - - - - - 199,000
KCL - - - - - - - -
PCAL - - - - - - - -
RICB - - - - - - - -
STCB - - - - - - - -
TBL - - - - 2,200,000 - - 2,200,000
TOTAL 817,500 2,674,100 1,270,000 3,000,000 2,200,000 - 827,235 10,788,835
Table - 6.2 Nu. in million
COMPANY TOTAL
2007 2008 2009 2010 2011 2012 2013 VALUE
*BBCL - - - - - - -
BBPL - - - - - - - -
BCCL - - - - - - - -
*BDAL - - - - - - - -
BFAL - - - - - - -
BIL - - 100.00 - - - - 100.00
BNB - - - - - - - -
BPCL - - - - - - - -
BTCL - - - - - - - -
BTL 40.00 - - - - - - 40.00
DFAL 122.26 - - - - 122.26
DPL 136.49 136.49
*DPCL - - - - - - - -
DPNB 300.00 - - - 300.00
DPOP - - - - - - - -
DSCL - - - - - - - -
*DML - - - - - - - -
DWAL 41.75 125.25 27.00 - - - - 194.00
EBCC - - - - - - - -
JMCL - 19.90 - - - - - 19.90
KCL - - - - - - - -
PCAL - - - - - - - -
RICB - - - - - - - -
STCB - - - - - - - -
TBL - - - - 220.00 - - 220.00
TOTAL 81.75 267.41 127.00 300.00 220.00 - 136.49 1,132.65
-
50
100
150
200
250
300
350
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
2007
2008
2009
2010
2011
2012
2013
Nu
. in
mil
lio
n
VO
LU
ME
YEAR
PUBLIC OFFERS Volume
Value
Figure : 5
Note :Figures may not tally due to rounding
* De-listed from the Exchange16
BONUS/ RIGHTS/EMPLOYEE STOCK OPTION (ESoP)/
OFF MARKET TRANSACTION
Table - 7.1 No. of shares
COMPANY TOTAL
2007 2008 2009 2010 2011 2012 2013 VOLUME
BBPL - - - - - - -
BCCL 1,000,000 - - - - - 1,000,000
BFAL - - - - - - -
DFAL - - - 1,267,632 - - 1,267,632
BTCL - - - - - - -
BNBL - 2,365,117 - - 3,203,166 13,516,682 5,068,756 24,153,721
DSCL - - - 456,543 - 456,543
JMCL - - 142,232 - 142,231 284,463
PCAL - 1,133,337 - - - 1,133,337
RICB - - 1,440,000 - - 1,440,000
STCB 200,000 200,003 300,005 900,008 1,600,016
TBL 800,000 800,000
DPNB 1,490,273 3,650 1,493,923
BIL - - - - - 1,000,000 1,000,000
TOTAL 1,000,000 3,498,454 1,582,232 1,924,175 3,545,400 16,306,960 6,772,414 34,629,635
Table - 7.2 Nu. In Million
COMPANY TOTAL
2007 2008 2009 2010 2011 2012 2013 VALUE
BBPL - - - - - - - -
BCCL 100.00 - - - - - - 100
BFAL - - - - - - - -
DFAL - - - 126.76 - - - 127
BTCL - - - - - - - -
BNBL - 236.51 - - 1,441.42 1,351.67 1,554.49 4,584
DSCL - - - 45.65 - - - 46
JMCL - - 14.22 - 14.22 - - 28
PCAL - 113.33 - - - - - 113
RICB - - 144.00 - - - - 144
STCB 20.00 20.00 30.00 90.00 160
TBL 80.00 80
DPNB 177.18 0.37 178
BIL - - - - - 100.00 100
TOTAL 100.00 349.85 158.22 192.42 1,475.65 1,658.85 1,724.85 5,659.83
TRADED VALUE .
TRADED VOLUME
0.00
200.00
400.00
600.00
800.00
1,000.00
1,200.00
1,400.00
1,600.00
1,800.00
2,000.00
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
2007
2008
2009
2010
2011
2012
2013
Nu
. in
Millio
n
VO
LU
ME
YEAR
TRADED BONUS/ESoP/OFF- MARKET TRANSACTION/ RIGHTS VALUE vs TRADED BONUS/ESoP/OFF-MARKET TRANSACTION/ RIGHTS VOLUME
Volume Value
Figure : 6
Note :Figures may not tally due to rounding17
SECONDARY MARKET
Table - 8.1 No. of shares
COMPANY TOTAL
2007 2008 2009 2010 2011 2012 2013 VOLUME
BBPL - 100 - - - - 10,100 10200
BCCL - 970 20,000 - - 84.00 20 21074
*BDAL - - - delisted 0
BFAL - 534 - 50.00 - - - 584
BIL - - 1,428 32,247.00 19,981.00 24,815.00 171,831 250302
BNBL 23,444 48,047 187,789 26,913.00 126,673.00 600,114.00 521,035 1534015
BPCL 71 - - - - - - 71
BTCL - 19,160 - 80.00 60.00 - 40 19340
BTL - - 300 - - - - 300
DFAL - - - 706,083.00 2,650.00 50,150.00 4,050 762933
DPL 31,748 31748
*DPCL - - - - delisted 0
DPNB 29,820.00 27,950.00 14,556 33,911 106237
DPOP 50 - - - - - - 50
DSCL 3,063 - - - - - - 3063
*DML 2,026 - - - delisted - - 2026
DWAL 11,450.00 970.00 650.00 1,175 14245
EBCC 11,607 2,986 - 150.00 486.00 1,261.00 1,000 17490
JMCL - 180 821 - 2,100.00 1,277.00 801 5179
KCL - 216 - - - 978.00 432 1626
PCAL 5,260 1,400 50,895 1,220.00 5,490.00 1,440.00 3,585 69290
RICB 5,010 3,500 550 1,350.00 4,450.00 5,160.00 3,250 23270
STCB - 30 200 9,800.00 - 440 10470
TBL 184,948.00 40,897.00 26,699 252544
TOTAL 50,531 77,123 261,983 819,163 375,758 741,382 810,117 3,136,057
Table - 8.2 Nu. in million
COMPANY TOTAL
2007 2008 2009 2010 2011 2012 2013 VALUE
BBPL - - - - - - 1.01 1.01
BCCL - - 18.00 - - 0.08 0.02 18.09
*BDAL - - - delisted 0.00
BFAL - - - 0.03 - - - 0.03
BIL - - 0.15 4.36 4.47 6.27 31.76 47.00
BNBL 17.40 21.00 76.45 12.03 60.97 181.13 165.38 534.35
BPCL 0.01 - - - - - - 0.01
BTCL - 5.75 - 0.03 0.02 - 0.02 5.82
BTL - - 0.03 - - - - 0.03
DFAL - - - 115.04 0.43 10.02 0.87 126.36
DPL 8.34 8.34
*DPCL - - - - delisted 0.00
DPNB - - - 8.81 9.67 5.03 11.78 35.29
DPOP 0.01 - - - - - - 0.01
DSCL 0.87 - - - - - - 0.87
*DML 0.87 - - - delisted 0.87
DWAL 2.28 0.54 0.37 0.53 3.72
EBCC 1.18 0.54 - 0.05 0.15 0.38 0.34 2.64
JMCL - 0.14 0.45 - 1.44 0.89 0.59 3.52
KCL - 0.02 - - - 0.13 0.05 0.20
PCAL 3.64 1.12 37.05 0.92 4.55 1.32 2.39 50.99
RICB 1.61 1.46 0.19 0.47 1.91 2.77 1.72 10.13
STCB - 0.01 0.04 1.86 - - 0.09 1.99
TBL - - - - 48.75 10.71 4.94 64.40
TOTAL 25.59 30.04 132.35 145.88 132.90 219.10 229.81 915.66
Value (%)
IPO 1,132.65 55.30
Secondary 915.66 44.70
TOTAL 2,048.31 100.00
0
50
100
150
200
250
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
20
07
2008
20
09
20
10
20
11
20
12
2013
Nu
. in
millio
n
VO
LU
ME
YEAR
YEAR-WISE TRADED VALUE vs TRADED VOLUME IN SECONDARY MARKET
Volume Value
Figure : 7
IPO 55.30
%
44.70%
Percentage turnover in IPO's & Secondary Market
(2007 - 2013)
Figure : 8
Note :Figures may not tally due to rounding
* De-listed from the Exchange 18
Table - 9 MARKET PRICE Table - 9….. Contd. MARKET PRICE
Market Price Year End Market Price Year End
Company Year High Low Closing Price Company Year High Low Closing Price
BCCL 2007 - - 600 BNBL 2007 805 635 805
2008 800 800 800 2008 805 100 400
2009 900 900 900 2009 500 400 421
2010 - - 900 2010 500 400 470
2011 - - 900 2011 550 460 520
2012 900 900 900 2012 600 250 300
2013 770 770 770 2013 335 335 335
RICB 2007 350 299 350 BPCL 2007 100 100 100
2008 500 350 500 2008 - - 100
2009 350 100 330 2009 - - 100
2010 350 350 350 2010 - - 100
2011 500 400 500 2011 - - 100
2012 600 500 600 2012 - - 100
2013 700 700 700 2013 - - 100
PCAL 2007 800 550 800 STCB 2007 - - 190
2008 800 100 790 2008 190 190 190
2009 800 600 750 2009 190 190 190
2010 950 750 750 2010 100 190 190
2011 950 600 950 2011 - - 190
2012 950 850 930 2012 - - 190
2013 700 700 700 2013 200 200 200
BTCL 2007 - - 170 EBCC 2007 140 100 140
2008 301 300 301 2008 300 140 300
2009 - - 301 2009 - - 300
2010 400 400 400 2010 150 150 150
2011 400 400 400 2011 300 300 300
2012 - - 400 2012 300 300 300
2013 400 400 400 2013 344 344 344
BFAL 2007 - - 510 DSCL 2007 300 275 300
2008 550 510 550 2008 - - 300
2009 - - 550 2009 - - 300
2010 600 600 600 2010 - - 300
2011 - - 600 2011 - - 300
2012 - - 600 2012 - - 300
2013 - - 600 2013 - - 300
BBPL 2007 - - 100 DPOP 2007 200 200 200
2008 140 140 140 2008 - - 200
2009 - - 140 2009 - - 200
2010 - - 140 2010 - - 200
2011 - - 140 2011 - - 200
2012 - - 140 2012 - - 200
2013 100 100 100 2013 - - 200
BIL 2008 100 100 100 JMCL 2008 800 100 800
2009 120 100 105 2009 650 100 650
2010 200 100 200 2010 - - 650
2011 225 200 220 2011 700 650 700
2012 300 189 200 2012 700 700 700
2013 162 162 162 2013 850 850 850
DFAL 2008 100 100 100 KCL 2007 100 100 100
2009 - - 100 2008 100 100 100
2010 200 100 100 2009 - - 100
2011 200 100 100 2010 - - 100
2012 200 100 150 2011 - - 100
2013 300 300 300 2012 130 130 130
DPNB 2010 350 100 350 2013 120 120 120
2011 350 100 350 BTL 2008 - - 100
2012 400 300 300 2009 105 105 105
2013 297 297 297 2010 - - 105
DWAL 2008 100 100 100 2011 - - 105
2009 100 100 100 2012 - - 105
2010 200 150 200 2013 - - 105
2011 600 350 600 TBL 2011 300 200 250
2012 600 450 450 2012 300 250 300
2013 450 450 450 2013 150 150 150
DPL 2013 240 230 240
* Drop in figures are due to splitting of shares from Nu.1,000 to Nu.100 per shares
Note : - No secondary transactions during the Year19
Table - 10
Face Value Last Sale Total Holdings Holdings
Company 2007 2008 2009 2010 2011 2012 2013 (IPO) Price (Nu.) Nu. in Millions of securities
Price (2013) in Depository
BBPL 1,400,014 1,400,014 1,400,014 1,400,014 1,400,014 1,400,014 1,400,014 100 100 140.00 100%
BCCL 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 100 770 770.00 100%
*BDAL 12,250 25,000 25,000 delisted -
BFAL 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 100 600 900.00 100%
BIL - - 1,000,000 1,000,000 1,000,000 2,000,000 2,000,000 100 162 324.00 100%
BNBL 1,190,080 3,555,175 3,555,175 3,555,175 6,758,341 20,275,023 25,343,779 100 335 8,490.17 100%
BPCL 249,334 249,334 249,334 249,334 249,334 249,334 249,334 100 100 24.93 100%
BTCL 209,400 209,400 209,400 209,400 209,400 209,400 209,400 100 400 83.76 100%
BTL - 400,000 400,000 400,000 400,000 400,000 360,000 100 105 37.80 100%
DFAL - - 1,630,130 2,897,762 2,897,762 2,897,762 2,897,762 100 300 869.33 100%
DPL 827,235 240 198.54
*DPCL 62,370 62,370 62,370 62,370 delisted -
DPNB - - - 3,000,000 3,000,000 4,490,273 4,493,923 100 297 1,334.70 100%
DPOP 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100 200 20.00 100%
DSCL 456,543 456,543 456,543 913,086 913,086 913,086 913,086 100 300 273.93 100%
*DML 37,702 37,702 37,702 37,702 delisted -
DWAL - 1,940,000 1,940,000 1,940,000 1,940,000 1,940,000 1,940,000 100 450 873.00 100%
EBCC 521,000 521,000 521,000 521,000 521,000 521,000 521,000 100 344 179.22 100%
JMCL - 284,300 426,532 426,532 568,763 568,763 568,763 100 850 483.45 100%
KCL 500,000 500,000 500,000 500,000 500,000 500,000 500,000 100 120 60.00 100%
PCAL 2,266,670 3,400,007 3,400,007 3,400,007 3,400,007 3,400,007 3,400,007 100 700 2,380.00 100%
RICB 960,000 960,000 2,400,000 2,400,000 2,400,000 2,400,000 2,400,000 100 700 1,680.00 100%
STCB 200,000 200,000 200,000 400,000 600,003 900,008 1,800,016 100 200 360.00 100%
TBL 2,200,000 2,200,000 3,000,000 100 150 450.00 100%
TOTAL:- 10,665,363 16,800,845 21,013,207 25,912,382 31,557,710 47,864,670 55,424,319 19,932.83 100.00%
YEAR-WISE SECURITIES HOLDINGS IN THE CENTRAL DEPOSITORY
-
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
2007
2008
2009
2010
2011
2012
2013
Vo
lum
e
YEAR
YEAR-WISE SECURITIES HELD IN CENTRAL DEPOSITORY
Figure : 9
Note: Figures may not tally due to rounding
*De-listed from the Exchange 20
DIVIDEND RECORDSTable - 11 (In Percent)
Company 2008 2009 2010 2011 2012 2013
BBPL 6 15 15 12 - 10
BCCL 10 - 20 10 25 40
*BDAL - - delisted -
BFAL 40 50 85 65 60 65
BIL - - 7.50 15 9.50 10
BTL - - - - - -
BNBL 28.50 28.50 28.50 - 16.64 7.66
BPCL 25 35 30 10 5 8
BTCL 30 - 20 25 25 25
DFAL - - 17 23 17 20
*DPCL - - - delisted -
DPNB - - - - 6 7
DPOP 15 30 60 15 25 10
DSCL 45 100 60 75 70 100
*DML - - 50 delisted -
DWAL - - 40 60 30 50
EBCC 80 30 60 65 75 200
JMCL 70 70 100 100 100 125
KCL 9 12 18 20 12 -
PCAL 70 100 100 100 100 90
RICB 30 15 25 30 35 45
TBL - - -
STCB 20 10 25 20 - -
DPL -
-
50
100
150
200
250
BBPL BCCL *BDAL BFAL BIL BTL BNBL BPCL BTCL DFAL *DPCL DPNB DPOP DSCL *DML DWAL EBCC JMCL KCL PCAL RICB TBL STCB DPL
PER
CEN
T
COMPANY
DIVIDEND
2008 2009 2010 2011 2012 2013
Figure : 10
* Delisted from the Exchange 21
Table - 10 2012
Nu. in Million Table - 9 1993-2012
Broker Bought Sold Total % Nu. in Million
Broker Bought Sold Total
RICB 63.44 81.16 144.60 33.00
BOB 38.77 45.10 83.87 19.14 Drook 64.59 63.18 127.77
Drook 0.49 0.45 0.94 0.22
BNB 116.40 92.39 208.78 47.65 BOB 973.56 1002.80 1976.36 Percentage
BNB 3,052.24 3,003.09 6055.33 #DIV/0!
RICB 1770.04 1711.03 3481.07 #DIV/0!
TOTAL 438.20 100.00 TOTAL 11640.53 #DIV/0!
Table - 10 2013 Table - 10 1993-2013 #DIV/0!
Nu. in Million Nu. in Million
Broker Bought Sold Total % Broker Bought Sold Total % #DIV/0!
RICB 114.29 114.45 228.74 49.77 RICB 1884.33 1825.48 3709.81 30.66
BOB 6.86 6.19 13.05 2.84 BOB 980.42 1008.99 1989.41 16.44
BDB 5.29 5.67 10.96 2.38 BDB 69.88 68.85 138.73 1.15
BNB 103.38 103.51 206.89 45.01 BNB 3155.62 3106.60 6262.22 51.75
%
#DIV/0!
#DIV/0!
TOTAL 459.64 100.00 TOTAL 12100.17 100.00
#DIV/0!
#DIV/0!
#DIV/0!
Percentage
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
RICB 33.00%
BOB 19.14%
Drook 0.22%
BNB 47.65%
Broker's Performance ( 2012 ) Figure : 13
RICB 49.77%
BOB 2.84%
BDB 2.38%
BNB 45.01%
Broker's Performance ( 2013) Figure : 12
0.00
500.00
1000.00
1500.00
2000.00
2500.00
3000.00
3500.00
RICB BOB BDB BNB
18
84
.33
98
0.4
2
69
.88
31
55
.62
182
5.4
8
100
8.9
9
68.8
5
310
6.6
0
Nu
. in
Mil
lio
n
VALUE TRADED BY BROKERS ( 1993 - 2013 ) Bought Sold
Figure : 11
22
Net Profits Reserves Net Profits Reserves Net Profits Reserves Net Profits Reserves Net Profits Reserves Net Profits Reserves Net Profits
Nu. in mil. Nu. in mil. Nu. in mil. Nu. in mil. Nu. in mil. Nu. in mil. Nu. in mil. Nu. in mil. Nu. in mil. Nu. in mil. Nu. in mil. Nu. in mil. Nu. in mil.
BBPL 29.71 62.66 12.99 67.25 33.22 79.47 33.60 96.27 21.29 100.76 16.41 117.17 45.71
BCCL 46.10 466.49 14.49 470.99 (88.17) 377.22 72.20 428.76 8.15 421.45 29.87 426.03 46.25
BFAL 1.11 297.99 270.51 494.00 90.43 464.42 244.93 581.85 130.92 615.27 92.99 618.27 115.79
BIL - - - - 3.25 4.25 12.37 9.12 29.80 23.92 44.12
BNBL 249.54 902.71 310.35 933.14 266.27 1,098.10 250.82 1,247.58 510.05 2,877.30 697.92 2,927.19 482.73
BPCL 8.03 32.15 8.02 33.94 11.10 36.28 10.50 39.31 3.27 40.08 1.79 40.62 3.99
BTCL 11.03 52.46 25.26 70.57 10.94 81.56 11.12 89.67 18.54 102.35 28.81 127.63 30.06
BTL 1.83 4.39 8.37 12.76 (7.41) 4.22 (3.98) (3.87) (4.21) (8.04) (10.61) (18.69) (3.00)
DFAL - - - - (45.90) - 50.45 1.19 68.00 2.54 51.53 4.80 67.11
DPOP 1.94 3.34 2.61 4.45 7.54 8.99 9.77 12.76 3.89 15.15 3.89 16.54 1.80
DSCL 17.71 49.97 35.08 64.51 60.04 78.89 71.01 49.47 111.82 92.80 91.49 120.37 111.81
DWAL - - - - (23.99) - 105.81 4.21 168.73 56.54 60.73 77.21 132.71
EBCC 9.38 1.82 58.70 18.83 55.15 58.35 119.03 127.86 118.06 193.81 148.33 284.79 138.80
JMCL 35.66 24.75 63.46 68.31 78.99 103.24 93.84 154.40 103.64 186.94 107.21 237.27 132.13
KCL 4.63 90.73 6.97 93.20 10.00 95.20 15.88 100.82 22.21 110.87 12.46 122.05 6.02
PCAL 321.14 787.77 293.11 729.54 370.20 759.74 378.74 798.48 291.37 749.85 351.91 761.76 272.04
RICB 106.34 435.54 119.26 550.05 181.20 583.83 210.13 734.42 300.09 982.52 350.75 1,267.06 365.16
STCB (15.77) 36.76 42.79 75.56 30.99 82.55 88.48 141.03 72.29 201.32 9.03 180.36 4.59
DPNB - - - - - - (11.79) - 45.30 33.51 85.98 120.69 97.10
TBL - - - - - - - 21.63 21.63 36.95 58.58 18.87
DPL (24.86)
Earnings per share
2007 2008 2009 2010 2011.00 2012 2013
BBPL 21.22 9.28 23.73 24.00 15.21 11.72 32.65
BCCL 46.10 14.49 -88.17 72.20 8.15 29.87 46.25
BFAL 0.74 185.67 60.28 163.29 87.28 62.00 77.19
BIL - - 3.25 12.37 29.80 20.08 22.06
BNBL 209.69 87.30 74.90 70.55 75.47 34.42 19.05
BPCL 32.20 32.16 44.42 42.12 13.10 7.16 16.03
BTCL 52.68 120.61 52.26 53.10 88.53 137.60 143.57
BTL 4.58 20.92 -24.77 -0.99 -10.53 -26.51 -8.34
DFAL - -17.79 -28.15 17.41 23.46 17.78 23.16
DPOP 19.44 26.10 75.43 97.67 38.89 38.93 18.01
DSCL 38.79 76.84 131.50 77.77 122.46 100.20 122.45
DWAL - - -12.37 54.54 96.33 31.30 68.41
EBCC 18.00 112.66 147.52 228.47 226.61 284.70 266.40
JMCL 125.44 223.22 185.23 220.01 182.22 188.50 232.31
KCL 9.26 13.93 20.00 31.75 44.43 24.91 12.05
PCAL 141.68 86.21 108.88 111.39 85.70 103.50 80.01
RICB 110.77 124.23 75.50 87.56 125.04 146.15 152.15
STCB -78.84 213.97 77.49 221.21 120.48 10.04 2.55
DPNB - - - -3.93 15.10 19.15 21.61
TBL - - - - 9.83 16.79 6.29
DPL -30.05
2007 201320122011201020092008
(200.00)
(100.00)
-
100.00
200.00
300.00
400.00
500.00
600.00
700.00
800.00
Nu
. in
Millio
n
COMPANY
NET PROFITS
2007 2008 2009 2010 2011 2012 2013
Figure : 15
(500.00)
-
500.00
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
3,500.00
BB
PL
BC
CL
BF
AL
BIL
BN
BL
BP
CL
BT
CL
BT
L
DF
AL
DP
OP
DS
CL
DW
AL
EB
CC
JM
CL
KC
L
PC
AL
RIC
B
ST
CB
DP
NB
TB
L
DP
L
Nu
.in
Millio
n
COMPANY
RESERVES
2007 2008 2009 2010 2011 2012 2013
Figure : 14
-150
-100
-50
0
50
100
150
200
250
300
350
BB
PL
BC
CL
BF
AL
BIL
BN
BL
BP
CL
BT
CL
BT
L
DF
AL
DP
OP
DS
CL
DW
AL
EB
CC
JM
CL
KC
L
PC
AL
RIC
B
ST
CB
DP
NB
TB
L
DP
L
Ng
ult
rum
COMPANY
EARNINGS PER SHARE (Value in Nu.)
2007 2008 2009 2010 2011 2012 2013 Figure : 16
23
Primary Issue of Government / Corporate Bonds
Table - 12
Year Volume in '000s Nu.in million
2004 489.95 489.95
2005 - -
2006 - -
2007 - -
2008 - -
2009 500 500
2010 1,500 1,500
2011 494 494
2012 - -
2013 - -
TOTAL:- 2,983.95 2,983.95
RGOB Treasury Bills
Table - 13
Year Bills UNITS Nu.in million
Year - 2004 T004 500,000 500.00
Year - 2005 T005 300,000 300.00
Year - 2006 - - -
Year - 2007 - - -
Year - 2008 - - -
Year - 2009 R201 200,000 2,000.00
Year - 2010 R202,R203,R204 350,000 3,500.00
Year - 2011 R205,R207,R208 150,000 1,500.00
Year - 2012 R209,R210,R211,R212,R213,R214 591,698 5,916.98
TOTAL 2,091,698 13,717
489.9
5
-
-
-
-
50
0
1,5
00
494
-
-
0
200
400
600
800
1,000
1,200
1,400
1,600
-
200
400
600
800
1,000
1,200
1,400
1,600
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
Nu
. in
millio
n
VO
LU
ME
S (
in t
ho
us
an
ds
)
YEAR
Bonds
VOLUME NGULTRUM
Figure : 17
24
Sources of Funds 2013 2012
(Nu.) (Nu.)
Share Capital 2,000,000.00 2,000,000.00
Reserves & Surplus 13,096,189.67 9,637,793.80
Capital Grants 4,959,942.40 6,022,787.20
Total 20,056,132.07 17,660,581.00
Application of Funds
Fixed Assets
Gross Block 12,309,565.76 12,204,049.22
Less : Accumulated Depreciation (6,821,707.41) (5,570,445.74)
5,487,858.35 6,633,603.48
Investments 2,000,000.00 2,725,000.00
Current Assets:
Cash and Bank Balances 13,166,998.23 8,867,651.38
Loans and Advances 1,293,998.46 1,125,284.50
Other Assets 753,603.61 1,173,403.31
15,214,600.30 11,166,339.19
Less: Current Liabilities 2,646,326.58 2,864,361.67
Net Current Assets 12,568,273.72 8,301,977.52
Total 20,056,132.07 17,660,581.00
ROYAL SECURITIES EXCHANGE OF BHUTAN LIMITED
BALANCE SHEET AS AT 31 DECEMBER 2013
25
2013 2012
(Nu.) (Nu.)
Income
Revenue and Commission 9,104,092.17 7,220,765.31
Other Income 2,030,880.61 1,755,459.70
Total 11,134,972.78 8,976,225.01
Expenditure
Employees Remuneration & Benefits 3,584,675.00 3,472,161.00
Other Expenses 3,293,076.91 2,655,589.80
Depreciation 1,251,261.67 1,340,351.98
Total 8,129,013.58 7,468,102.78
Profit before Tax 3,005,959.20 1,508,122.23
Provision for Taxation 452,436.67 (452,436.67)
Profit / (Loss) after tax transferred to General Reserve 3,458,395.87 1,960,558.90
Basic EPS 172.92 98.03
Diluted EPS 172.92 98.03
ROYAL SECURITIES EXCHANGE OF BHUTAN LIMITED
PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2013
26
2013(Nu.) 2012(Nu.)
1 Cash Flow from Operating Activities
Net profit after Tax 3,458,395.87 1,055,685.56
Add : Depreciation 1,251,261.67 1,340,351.98
Less : Income from Grant (1,062,844.80) (1,062,844.80)
Less : Interest (204,020.56) (204,020.56)
Add: Interest on loan 3,264.39 15,108.04
Less : Interest paid (3,264.39) (15,108.04)
Add:Prov. For Taxation (452,436.67) 452,436.67
Cash Flow before changes in working capital 2,990,355.51 1,581,608.85
Changes in Working Capital
(Increase)/Decrease in Loans & Advances (168,713.96) 139,555.90
(Increase)/Decrease in Other Assets 419,271.28 202,648.08
Increase/(Decrease) in Current Liabilities (670,471.76) (2,734,720.78)
Cash Flow from Operating Activities before taxation 2,570,441.07 (810,907.95)
Cash Flow from Operating Activities 2,570,441.07 (810,907.95)
2 Cash Flow from Investing Activities
Payment to acquire tangible fixed asset (equipment) (105,516.54) (7,257,062.00)
Interest on Investment 204,020.56 204,020.56
Maturity of investment (7.5% RGOB Bonds) 725,000.00 -
Cash Flow from Investing Activities 823,504.02 (7,053,041.44)
3 Cash Flow from Financing Activities
Capital Grant received - 7,085,632.00
- 7,085,632.00
Net Cash Flow (1+2+3) 3,393,945.09 (778,317.39)
Opening Cash & Cash Equivalent 8,867,651.38 9,645,968.77
Closing Cash & Cash Equivalent 13,166,998.23 8,867,651.38
Increase/(Decrease) in Cash 4,299,346.85 (778,317.39)
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2013
ROYAL SECURITIES EXCHANGE OF BHUTAN LIMITED
27
